| Horizon Therapeutics [HZNP] - Last Close: $78.76 Buyout rumors are skyrocketing Horizon Therapeutics today. The mid-cap pharma firm is reportedly in "high preliminary discussions" with three suitors regarding a potential buyout deal. Horizon reported it is currently fielding proposals from Amgen [AMGN], Janssen Global Services, and Sanofi [SNY]. The company also said that there's no certainty that any offer will be made. HZNP is one of today's top premarket stocks with a 33.0% gain. My Take: This rally will fall apart quickly if the buyout deal doesn't go through. However, there could still be upside in this trade if Horizon can land a deal. It's a speculative move that's not without risk, but could be lucrative. Workday [WDAY] - Last Close: $143.30 Workday is moving higher after an earnings beat. The enterprise cloud stock reported its fiscal Q3 results in Tuesday's after-hours, and the market liked what it saw. Workday reported non-GAAP diluted EPS of $0.99 per share, well ahead of the consensus of $0.84. Revenues of $1.6 billion also topped analysts' $1.59 billion target. Workday also raised its fiscal 2023 guidance and announced a buyback of up to $500 million worth of its Class A shares. WDAY is one of today's top large-cap movers with a 9.1% gain. My Take: WDAY has been trapped in a narrow trading range since August. This rally could help shake things up, but the stock is facing substantial resistance at the $160 mark. Very Good Food Co. [VGFC] - Last Close: $0.1311 Plant-based food stock Very Good Food just landed a major deal. The Vancouver-based alt meat firm has entered into a retail distribution deal with the second-largest supermarket operator in North America, Albertsons. Very Good Food will launch its products at over 900 grocery stores and 2,700 distribution points beginning in Jan. 2023. The company also recently announced it's out of compliance with a cash coverage ratio clause in its loan agreement with Waygar Capital. Waygar has advised the company that it doesn't plan to take action on the default at this time, and the companies a working together to reach a resolution. VGFC is one of this morning's most active stocks, and it's up 17.7%. My Take: Plant-based meat has been a flop so far, but lots of people still believe this industry has growth potential. VGFC could be a compelling growth play if you're bullish on alt meat, but, remember, this company has its share of issues. Kalera PLC [KAL] - Last Close: $0.18 Kalera is running hot after a business announcement. On Monday, the AgTech firm said it would begin restructuring its German subsidiary, Kalera GmbH, through a court-supervised process. Last month, the company announced plans to divest its international business assets on Oct. 18th. So far, Kalera GmbH has received substantial interest, but there are currently no definitive deals in place to acquire or invest in the subsidiary, Kalera said. Kalera said it's "confident" a deal will be made before the end of the year. KAL is this morning's most actively traded stock, and it's up 23.2%. My Take: Investors are buying KAL in hopes a buyout announcement will drive share prices higher. Unfortunately, some of the upside potential has already been priced into the stock, but there could still be a healthy return in store for shareholders at buyout time. It could be a "buy the rumor" opportunity. GainersIveda Solutions [IVDA] >> +39.0%Myomo [MYO] >> +27.4%Otonomy [OTIC] >> +19.0%DeclinersWiSA Tech [WISA] >> (45.4%)Crowdstrike Holdings [CRWD] >> (17.3%)Bio-Techne Corp [TECH] >> (74.7%) Hormel Foods Corporation [HRL] ... AM
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